Treasury Management

Zero Balance Accounts

A Hickory Point Bank Zero Balance Account product is designed for companies that maintain a general operating account and separate accounts for payroll, petty cash or other purposes. This account system allows you to segregate expenditures for easier monitoring or accounting while reducing administrative time and expenses.

Features:

All of your funds are concentrated into one operating account. Disbursements are made from subsidiary accounts, which always maintain a zero balance.

Subsidiary accounts to handle payroll, petty cash or other similar needs, always maintain a zero balance.

Deposits are made into a central operating account.

Each day, the total for all checks presented against Zero Balance Accounts is covered by a debit to the central operating account.

Transfers from the central operating account to the subsidiary Zero Balance Accounts are cross-referenced for convenience.

Benefits

Eliminates time spent on manually funding subsidiary accounts.

Eliminates the need to track balance levels and funding requirements for individual accounts.

Maximizes funds available for investment and reduces potential for overdraft fees.